Jag Center

Investment Overview

1427 N 3rd Street presents a rare opportunity to acquire a strategically positioned urban infill asset within the Downtown Phoenix market, directly adjacent to the rapidly expanding Midtown corridor. The property offers investors a compelling blend of existing cash flow and long-term redevelopment potential in one of Phoenix’s most active urban growth markets. Flexible lease termination structures create significant optionality for an owner-user, investor, or developer seeking to reposition the asset over time while maintaining interim income and downside protection. The property’s DTC-Townsend Park zoning provides a wide range of potential future development opportunities, including higher-density residential, mixed-use, office, and adaptive reuse concepts, subject to City of Phoenix development standards and approvals. City zoning standards for the district allow for increased urban intensity, pedestrian-oriented development, and a variety of building typologies consistent with the continued evolution of Downtown and midtown Phoenix. Whether viewed as a covered land play, long-term speculative investment, or future redevelopment opportunity, the asset offers a unique chance to capitalize on the continued densification and investment momentum occurring throughout the Downtown Phoenix market.

Investment Highlights

• * Located within the Downtown Phoenix Market immediately adjacent the Midtown corridor
• * Flexible lease termination structures provide near-term operational flexibility and long-term redevelopment optionality
• * Opportunity for owner-users, investors, or developers seeking a covered land play in a rapidly evolving urban market
• * DTC–Townsend Park zoning allows for a variety of higher-density residential, mixed-use, office, and adaptive reuse concepts
• * Positioned within one of Phoenix’s strongest urban growth corridors with continued investment and densification activity
• * Surrounded by major employment, medical, educational, and entertainment demand drivers including the Phoenix Biomedical Campus and Roosevelt Row
• * Existing improvements offer interim income potential while preserving future development and repositioning opportunities